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Goldman Sachs to price seven-year CDs linked to Dow with averaging
By Angela McDaniels
Tacoma, Wash., July 3 - Goldman Sachs Bank USA plans to price 0% equity index-linked certificates of deposit due July 30, 2020 linked to the Dow Jones industrial average, according to a term sheet.
If the index return is positive, the payout at maturity will be par plus the index return. If the index return is flat or negative, the payout will be par.
The final index level will be the average of the index's closing levels on each of the averaging dates, which are expected to be Jan. 25, April 25, July 25 and Oct. 25 of each year beginning Oct. 25, 2013.
The CDs are expected to price July 25 and settle July 30.
Goldman Sachs & Co. is the underwriter. Incapital LLC is distributor.
The Cusip number is 38147QFE1.
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